Mirae Asset Global Investments Co. Ltd. Reduces Position in Electronic Arts Inc. (NASDAQ:EA)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in Electronic Arts Inc. (NASDAQ:EA) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 372,742 shares of the game software company’s stock after selling 24,512 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.14% of Electronic Arts worth $45,324,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of EA. Retirement Systems of Alabama boosted its holdings in Electronic Arts by 3.6% in the 1st quarter. Retirement Systems of Alabama now owns 664,662 shares of the game software company’s stock valued at $88,181,000 after purchasing an additional 23,218 shares during the period. North Star Investment Management Corp. grew its position in Electronic Arts by 333.3% during the first quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after buying an additional 150 shares in the last quarter. Norden Group LLC purchased a new position in Electronic Arts during the first quarter worth about $1,236,000. Van ECK Associates Corp increased its stake in Electronic Arts by 18.2% in the 1st quarter. Van ECK Associates Corp now owns 404,713 shares of the game software company’s stock worth $53,693,000 after acquiring an additional 62,415 shares during the last quarter. Finally, SpiderRock Advisors LLC bought a new stake in shares of Electronic Arts during the 1st quarter valued at about $359,000. Institutional investors own 90.23% of the company’s stock.

Analyst Upgrades and Downgrades

EA has been the subject of a number of research reports. StockNews.com raised shares of Electronic Arts from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on Electronic Arts from $153.00 to $150.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Roth Mkm decreased their price objective on shares of Electronic Arts from $140.00 to $135.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. BMO Capital Markets dropped their target price on shares of Electronic Arts from $160.00 to $154.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Finally, Oppenheimer restated an “outperform” rating and set a $150.00 price target on shares of Electronic Arts in a report on Friday, June 21st. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Electronic Arts has an average rating of “Moderate Buy” and a consensus price target of $147.50.

Electronic Arts Stock Down 0.3 %

Shares of NASDAQ EA traded down $0.41 on Friday, reaching $138.26. 1,195,056 shares of the company’s stock traded hands, compared to its average volume of 1,681,083. The business’s 50 day simple moving average is $133.79 and its two-hundred day simple moving average is $134.88. Electronic Arts Inc. has a 12 month low of $117.47 and a 12 month high of $144.53. The company has a market cap of $36.74 billion, a price-to-earnings ratio of 29.54, a price-to-earnings-growth ratio of 2.21 and a beta of 0.79. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, May 7th. The game software company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). Electronic Arts had a net margin of 16.83% and a return on equity of 18.81%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.78 billion. As a group, equities research analysts forecast that Electronic Arts Inc. will post 5.68 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 29th were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, May 29th. This represents a $0.76 dividend on an annualized basis and a yield of 0.55%. Electronic Arts’s dividend payout ratio is currently 16.24%.

Insiders Place Their Bets

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $126.64, for a total transaction of $101,312.00. Following the sale, the insider now directly owns 26,283 shares in the company, valued at approximately $3,328,479.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $126.64, for a total transaction of $101,312.00. Following the sale, the insider now owns 26,283 shares of the company’s stock, valued at approximately $3,328,479.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jacob J. Schatz sold 1,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $128.21, for a total transaction of $128,210.00. Following the transaction, the insider now owns 18,426 shares in the company, valued at approximately $2,362,397.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,039 shares of company stock valued at $3,065,356. Insiders own 0.22% of the company’s stock.

Electronic Arts Company Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.